The lawsuit claims the social media company and its investment bankers, led by Morgan Stanley, “misled investors about the true state of their business while informing a handful of privileged clients about the company’s true prospects,” the Guardian newspaper reported.

The suit was filed in New York by Robbins Geller, the same firm that won the $7 billion settlement for shareholders in the Enron case.

Scrutiny of Facebook’s offering intensified this week, with the U.S. Securities and Exchange Commission examining how the market functioned during the offering and the Massachusetts Secretary of the Commonwealth, the state’s equivalent of an attorney general, sending a subpoena to Morgan Stanley.